Wall Street analysts predict that Noble Midstream Partners LP (NYSE:NBLX) will report earnings of $1.17 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Noble Midstream Partners’ earnings, with estimates ranging from $1.09 to $1.23. Noble Midstream Partners reported earnings per share of $0.80 in the same quarter last year, which suggests a positive year over year growth rate of 46.3%. The company is scheduled to announce its next quarterly earnings report before the market opens on Tuesday, February 20th.
According to Zacks, analysts expect that Noble Midstream Partners will report full year earnings of $4.06 per share for the current financial year, with EPS estimates ranging from $4.02 to $4.13. For the next fiscal year, analysts forecast that the business will report earnings of $4.93 per share, with EPS estimates ranging from $4.66 to $5.42. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Noble Midstream Partners.
Noble Midstream Partners (NYSE:NBLX) last posted its earnings results on Tuesday, February 20th. The energy company reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.01). Noble Midstream Partners had a net margin of 55.83% and a return on equity of 36.74%.
NBLX has been the subject of several recent research reports. Mizuho set a $53.00 price target on Noble Midstream Partners and gave the company a “hold” rating in a research report on Tuesday, October 31st. ValuEngine cut Noble Midstream Partners from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. Robert W. Baird set a $62.00 price target on Noble Midstream Partners and gave the stock a “buy” rating in a research report on Thursday, December 14th. Zacks Investment Research lowered Noble Midstream Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Finally, Credit Suisse Group assumed coverage on Noble Midstream Partners in a research note on Thursday, January 4th. They set an “outperform” rating and a $61.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Noble Midstream Partners currently has a consensus rating of “Buy” and a consensus target price of $56.86.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. increased its stake in Noble Midstream Partners by 111.1% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 28,500 shares of the energy company’s stock valued at $1,294,000 after purchasing an additional 15,000 shares in the last quarter. Magnetar Financial LLC purchased a new position in Noble Midstream Partners during the third quarter worth $12,732,000. California Public Employees Retirement System purchased a new stake in shares of Noble Midstream Partners in the third quarter valued at $332,000. HITE Hedge Asset Management LLC grew its position in shares of Noble Midstream Partners by 103.6% in the third quarter. HITE Hedge Asset Management LLC now owns 1,090,730 shares of the energy company’s stock valued at $56,576,000 after purchasing an additional 555,000 shares during the period. Finally, Cadence Capital Management LLC grew its position in shares of Noble Midstream Partners by 81.3% in the fourth quarter. Cadence Capital Management LLC now owns 60,527 shares of the energy company’s stock valued at $3,026,000 after purchasing an additional 27,140 shares during the period. 85.95% of the stock is owned by institutional investors and hedge funds.
Noble Midstream Partners (NYSE:NBLX) traded down $1.36 during trading on Thursday, hitting $51.91. The company had a trading volume of 70,366 shares, compared to its average volume of 123,908. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.40 and a quick ratio of 0.40. Noble Midstream Partners has a 12-month low of $41.90 and a 12-month high of $57.98. The firm has a market capitalization of $1,237.60, a P/E ratio of 13.97 and a beta of 0.95.
The firm also recently declared a quarterly dividend, which was paid on Monday, February 12th. Stockholders of record on Monday, February 5th were issued a $0.4883 dividend. This is a boost from Noble Midstream Partners’s previous quarterly dividend of $0.47. This represents a $1.95 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend was Friday, February 2nd. Noble Midstream Partners’s dividend payout ratio (DPR) is currently 52.70%.
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Noble Midstream Partners Company Profile
Noble Midstream Partners LP is engaged in owning, operating, developing and acquiring a range of domestic midstream infrastructure assets. The Company’s areas of focus are in the area of Denver-Julesburg (DJ) Basin in Colorado and the Southern Delaware Basin position of the Permian Basin in Texas (Delaware Basin).
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